Social Sciences and History / Unit 13 SSH 1211 short lesson, about 20 seconds
Schedules, Curves, and the Two Laws
Captions available
The idea
A demand schedule tables quantity demanded at each price; a demand curve graphs it. The law of demand: a higher price, a lower quantity demanded, other things equal. Supply mirrors it; the law of supply: a higher price, a higher quantity supplied.
In practice
Demand is the curve; quantity demanded, a point.
Where people slip
Quantity horizontal, price vertical.
Your place on the trail
Every lesson rests on earlier ones and opens later ones. Tap any to jump.
Something wrong in this lesson? Flag it